Harding Report August 2003
*** News from Jefferson County WV Property Market ***
Each month The Harding Report will include the latest news and information from the Jefferson County, West Virginia, property market. This is a free service compiled by Thomas Harding, a licensed real estate agent with Greg Didden and Associates in Shepherdstown, West Virginia.
For additional local information or any other property enquiry contact:
Thomas Harding
www.tharding.com
304 671 7292 (cellphone)
304 876 1999 (home)
304 876 6400 (office)
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Harding Report August 2003
*** News from Jefferson County WV Property Market ***
Each month The Harding Report will include the latest news and information from the Jefferson County, West Virginia, property market. This is a free service compiled by Thomas Harding, a licensed real estate agent with Greg Didden Associates in Shepherdstown, West Virginia.
For additional local information or any other property enquiry contact:
Thomas Harding
www.tharding.com
304 671 7292 (cell-phone)
304 876 6400 (office)
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Contents:
1. Property Sales
2. Homebuyer
3. Insurance
4. Lending
5. Planning
6. Upcoming Events
7. Local Economic News
“This is a great report” – Insurance broker
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THE HARDING REPORT August 2003
1. Property Sales
Jefferson County is the fastest growing county in West Virginia. Here are the latest figures (June2003)
* Average sale price as percentage of average list price is 98.1%
* Average list price was $228,836 up from $190,632 for same period in 2002
* Total Units sold is 71up from 58 for same period last year
* Average days on market is 51 compared to 106 for same period last year
2. Homebuyer
The National Association of Realtors launched its Supplier eDirectory, a new online resource that Realtors can use to find real estate product and service providers.
The Supplier eDirectory aims to provide vendors with a cost-effective way to list their products and services for Realtors, and it gives members a comprehensive and centralized online resource to find vendors.
The directory provides information on vendors' Web address, e-mail and other company information, as well as data on products and services. The directory acts as a "yellow pages" and contains multiple search options that allow visitors to find vendors by category, company name or location.
3.Insurance
It is increasingly hard to get homeowners insurance in West Virginia. According to local brokers part of the reason is pending legislation to limit liability in the state. Smith Nadenboush and State Farm are two who are not taking new customers.
4. Lending
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was a record low 5.23 percent in June, down from 5.48 percent in May; it was 6.65 percent in June 2002. Freddie Mac started tracking mortgage interest rates in 1971.
30 yr fixed: 5.94%
15 yr fixed: 5.27%
1 yr adj: 367%
(U.S. Averages)
Interest rates have risen in July. For the latest interest news go to http://realtytimes.com/customnews/mris.htm
5. Planning
· Jefferson County Planning and Zoning Commission advanced plans to the final stage to build 26 single family homes on 217 aces at Summit View Estates
6. Upcoming Events
· August 15-17, 11th Annual African American Cultural & Heritage Festival Sponsored by Jefferson County NAACP. For information call (304) 725-9610
· August 17-23, 51st Annual Jefferson County Fair Jefferson County Fairgrounds. For more information call (304) 728-7413
7. Economic News
· Jefferson County gained more housing units than any other county in West Virginia between 2001 and 2002 according to the US Census housing estimates released July 18 2003. Jefferson County added 465 housing units during that time. In 2002 Jefferson County issued 1,358 building permits. So far 838 permits have been issued this year.
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